New member appointed to FRAA regulatory watchdog
Lawyer Fiona Crosbie has been appointed to the Financial Regulator Assessment Authority (FRAA).
Crosbie was chair and partner at Allens, where she had worked since 2001 and specialised in competition law.
She would sit on the FRAA from March 2022 to September 2026.
The FRAA was an independent statutory body for assessing and reporting on the effectiveness and capability of the Australian Securities and Investments (ASIC) Commission and the Australian Prudential Regulation Authority (APRA), set up following the Hayne Royal Commission.
In a statement, Treasurer Josh Frydenberg, said: “The combined skills and experience of the chair Nicholas Moore and members Craig Drummond and Ms Crosbie will support the FRAA’s ongoing reviews of ASIC and APRA.
“Through the establishment of the FRAA, the Morrison Government is ensuring that Australia’s financial regulators will continue to be strong and effective, maintaining the community’s trust and confidence in the financial system.”
This was the second prominent appointment from Allens in a week as last week, partner Michelle Levy was appointed to lead the Quality of Advice Review.
AUTHOR
Laura Dew
Recommended for you
Apostle Funds Management has appointed the newly created position of director, head of wholesale as the firm expands its Australian footprint in the wholesale sector.
Recruitment manager Robert Half has shared the most in-demand roles in financial services that firms are finding difficult to fill, driven by ASIC’s growing focus on risk and compliance.
ASIC chief executive, Warren Day, is among senior executives to depart the corporate regulator amid changes to its leadership team.
Iress has completed the sale of its platform business, bringing $4.1 billion in funds under administration over to Praemium.
